Wagestream
“Can an EWA company become the financial OS — credit, savings, insurance, advice — for the hourly frontline worker?”
Founded2018
HQLondon, UK
FoundersPeter Briffett, Portman Wills
Total raised$200M+ equity (undisclosed total) + £300M debt facility
Latest roundSeries C, 2022 ($175M)
IndustryFintech / Earned Wage Access
The story
Founded 2018 as a UK EWA pure-play, Wagestream has expanded into a full financial wellbeing platform for hourly and frontline workers — adding savings, budgeting, coaching, insurance and most recently payroll-deducted lending. The 2024–2025 launch of Workplace Loans, backed by a £300M Citi facility, is its most significant strategic move: shifting from a fee-per-advance EWA model to a regulated consumer credit lender competing directly with high-cost lenders. The US entity (Stream Platforms, Inc.) signals continued geographic expansion.
Product timeline
2018
Founded in London by Peter Briffett and Portman Wills, offering earned wage access via employers.· founding
2019
Raised $25M Series A led by Northzone; launched Safestream automatic savings product.· banking
2022
Raised $175M Series C to expand into US market.· expansion
2024
Launched Workplace Loans via early access program.· lending
2025
Secured £300M debt facility from Citi to scale Workplace Loans.· lending
2025
Rebranded product surface to 'Stream' with expanded financial wellbeing suite (Budget, Coach, Pay, Rewards, Track, Workplace Savings).· pivot
Regulated entities
EMD Agent
UK FCA
Stream Platforms Ltd (FRN 902046)
PSD Agent (AIS)
UK FCA
Stream Platforms Ltd (FRN 995651)
Money transmitter (NMLS)
US
Stream Platforms, Inc. (NMLS #2547041)
The stack
Banking / BaaS
Lending
Open banking
Accounting gap: none